At Extreme Investor Network, we prioritize keeping our readers informed about the latest developments in the crypto space. Recently, OKX made an important announcement regarding the delisting of RNDR margin trading pairs and perpetual futures. This move is aimed at improving market liquidity and enhancing the overall user experience on the platform.

Details of the Delisting

According to the announcement, the perpetual futures trading pair RNDR/USDT will be delisted on July 9, 2024, between 8:00 and 9:00 am UTC. OKX will cease all related trades and cancel any open orders in the order book. To ensure a fair process, the exchange will deliver all affected perpetual futures positions at the arithmetic average price of the OKX index one hour before the delisting.

As part of their risk management strategy, OKX reserves the right to adjust the final delivery price if there are abnormalities in the index price leading up to the delisting. Additionally, the funding rate at 8:00 am UTC on the delisting day will be set to zero, eliminating any funding fees during that period.

Risk Management and User Advisories

OKX is advising its users to manage their risk by either reducing leverage multiples or closing positions ahead of the delisting. For users holding positions exceeding $10,000 in value at the time of delivery, asset transfers out of their trading accounts will be restricted for 30 minutes post-delisting. After this temporary restriction period, normal transfer operations will resume without any disruptions.

Adjustments to Risk Control Parameters

To facilitate a smooth delivery process for the delisted perpetual futures, OKX will make adjustments to its risk control parameters. These adjustments include modifying price limit rules to mitigate risks and stabilize prices during the delisting process.

Margin Trading Adjustments

For the margin trading pair RNDR/USDT, the borrowing feature will be discontinued on July 1, 2024, at 8:00 am UTC. A full delisting of the pair will follow on July 8, 2024, between 8:00 and 9:00 am UTC. OKX will suspend margin trading and flexible loans at the specified times, canceling all open orders. Users with outstanding borrowings or collateral in these pairs are advised to repay before the delisting to avoid forced repayment.

Discount Rate Adjustments

In multi-currency cross margin mode, OKX will adjust the discount rates for RNDR. Previously, the discount rate varied based on tiers, but post-adjustment, all tiers will have a zero discount rate for RNDR.

For more detailed information, we recommend visiting the official announcement on OKX’s platform to stay updated on these changes and how they may impact your trading activities.